UKGC Credit Card Ban: How the Decision Was Taken?
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UKGC has banned credit cards in casinos from 14 April 2020. The ban applies to UKGC licensed casinos. Casinos that are not UK-based or not under the UK GCG regulation can keep credit card as a payment method.
The United Kingdom Gambling Commission (UKGC) set up two consultations for gathering data on the ban on credit cards on gambling sites and restrictive usage of credit card in online casinos. GamCare, a non-profit organization that provides support and guidance to gambling sufferers, submitted 86 responses to the consultation.
According to the UKGC, 82% of people who use credit cards for gambling do not know about the additional charges implied by the credit card companies and the gambling sites. A survey found that 22% who used a creditcard as the payment method in casinos for betting struggled with addiction, 25% experienced moderate harm and 20% had mild harmful effects.
A survey shows that 22% of gamblers who used a credit card as the payment method in casinos for gambling struggled with addiction, 25% experienced moderate harm and 20% had mild harmful effects. According to the UKGC, 82% don't know about the additional charges implied by the credit cards and the gambling sites.
UKGC Ban Gambling. The objectives of the business strategy of 2018-2021 were to safeguard the interests of consumers, advance gambling regulations and elevate the overall standard of gambling industry. Gifting using credit cards often leads to crushing the debts of users due to the development of addictive gambling. With the gambling Industry rising and lockdown, more people are getting intrigued in gambling especially because of new features brought about by the sites.
UKGC Credit Card Ban: How the Decision Was Taken? Key Areas of Focus. The consultations of banning credit cards and restrictive use of them mainly examined four areas: the harmful impact of usage of credit card for gambling, problems involved in borrowing money for it, the responsibilities of the gambling sites on affordability, and the use other payment methods such as e-wallets, pre-paid cards.
UKGC Credit Card Ban was taken because of the harmful impact of using credit cards for gambling.
UKGC decided to ban credit cards for gambling. Chief Executive Neil MacArthur said that credit card use could lead to significant financial harm.
The board of the gambling commission took the informative decision based on several reports, types of research, studies, and surveys. The ban on credit card usage for gambling was considered the need of this hour.
